11 Markets With Highest Home Appreciations

Not all U.S. housing markets went south last year. First American CoreLogic Inc., in its latest study, identified the best-performing markets in the U.S. for 2008.

In many cases, the markets that made the list are areas that never enjoyed significant increases in value over the last decade -- but neither did they lose value over the last three years.

Nationwide, American CoreLogic, which predicts loan performance for banks, reported housing prices were down 11.1 percent last year. It predicts that home values will continue to decline through 2010.

In the fourth quarter of 2008, the report found that home price declines accelerated in some states where home values previously had been fairly stable, including Maine, Pennsylvania, Arkansas, Oregon and Rhode Island.

“The geographic breadth of price declines rapidly expanded in the second half of 2008, which means that housing wealth losses are broadening across much of the country," says Mark Fleming, Chief Economist for First American CoreLogic.

The 11 cities with the highest home price appreciation in 2008 are:

1. Cedar Rapids, Iowa: 8.83 percent
2. Binghamton, N.Y.: 7.78 percent
3. Amsterdam, N.Y.: 7.89 percent
4. Malone, N.Y.: 7.60 percent
5. Bay City, Mich.: 6.87 percent
6. College Station-Bryan: 6.78 percent
7. Rocky Mount, N.C.: 6.69 percent
8. Auburn, N.Y.: 6.51 percent
9. Lebanon, Pa.: 6.41 percent
10. Elmira, N.Y.: 6.28 percent
11. Johnstown, Pa.: 6.20 percent